Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ilaine who wrote (13645)	1/18/2002 1:30:56 PM
From: Ilaine	Read Replies (3) of 74559

I am not holding myself out as a prognosticator, this is just a hunch, or maybe it's a guess, but the fallout from Enron's collapse is going to be spectacular. We ain't seen nothing yet. We have no idea who the counter-parties were on the various derivatives, but they are going to unwind like a ball of string leaving nothing in the center. I have pointed out, numerous times, that the Fed and the BIS have been struggling to bring accountability and transparancy to the derivatives market since the 1998 LTCM debacle, so anyone who wants to point the finger at the Fed in general and Greenspan in particular is just blowing smoke. I also predict that this is going to give California all the ammo it needs for its cases against energy companies, the ones that claim that the California natural gas shortage of a year ago was faked. Who's going to believe anything Enron says now? The political fallout is going to taint both the Bush administration and the Clinton administration, as well as anyone who's taken major contributions from Enron, e.g., Lieberman.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next